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China graft watchdog probes another exec at Volkswagen JV  

BEIJING, Aug 30 (Reuters) - China's anti-graft watchdog has said it is investigating a former senior executive at Volkswagen AG's Chinese venture, FAW-Volkswagen Automotive Co Ltd, for corruption, the latest target in a widening probe against the company. An Dewu, FAW's former deputy general manager, was investigated for "suspected serious violations of the law", the ruling Chinese Communist Party's discipline watchdog said late on Friday....More

Argentine industrial output fell 0.7 pct in July y/y  

BUENOS AIRES, Aug 29 (Reuters) - Argentina's industrial production shrank 0.7 percent in July on the year in seasonally adjusted terms, the government said on Friday, marking the 12th consecutive monthly decline due largely to weakness in the automobile sector. Analysts polled by Reuters forecast a 2.9 percent drop during the month, according to the median forecast....More

AvtoVAZ mulls in-house production to halt parts monopolies, graft  

By Laurence Frost TOGLIATTI, Russia, Aug 29 (Reuters) - AvtoVAZ, the Russian carmaker controlled by Renault-Nissan, may bring some parts production in-house as it struggles to get more competitive pricing and stamp out corruption in its local supply chain, senior executives said. The maker of Lada cars is studying plans to invest in the manufacturing of components including seats and smaller metal body parts currently bought from suppliers, Chief Financial Officer Evgeny Belinin told reporters....More

Dongfeng H1 net up 54 pct on new models, improved efficiency  

SHANGHAI, Aug 29 (Reuters) - Dongfeng Motor Group Co Ltd posted a better-than-expected 54 percent rise in first-half earnings due to "remarkable" progress in the sales of several newly-launched models and improved operating efficiency. Chairman Xu Ping said he would press ahead with global expansion and would further improve the business structure of the Chinese partner of Japanese carmakers Nissan Motors Co and Honda Motor Co to avoid potential risks from the volatile Sino-Japan relationship....More

Audi Issues Globall Recall of 70,000 Cars  

The German luxury brand says the recall covers 3.0L diesel-engine-equipped A4, A5, A6 and A7 models with potentially defective brake boosters....More

UPDATE 1-Court grants Saab carmaker NEVS creditor protection  

(Adds court decision, defence firm Saab's decision to recall NEVS right to use Saab brand) STOCKHOLM, Aug 29 (Reuters) - China's National Electric Vehicle Sweden (NEVS), which bought bankrupt carmaker Saab in 2012, won protection from creditors from a Swedish court on Friday while it concludes funding talks. The decision gives the company, which has not built any cars since May because of a shortage of money, breathing space from creditors to whom it owes some 400 million Swedish crowns (57.56 million US dollar)....More

Russian truck maker Kamaz reports H1 net loss  

MOSCOW, Aug 29 (Reuters) - Russian truck maker Kamaz said on Friday it had made a 1.5-billion-rouble ($40.5 million) net loss in the first half of 2014 after recording a profit of 2.6 billion roubles a year ago. Kamaz, in which Germany's Daimler owns 15 percent, also reported a 10 percent slump in revenue to 47.6 billion roubles as costs increased while demand faltered. (1 US dollar = 36.9980 Russian rouble) (Reporting by Maria Kiselyova; Editing by Polina Devitt)...More

BRIEF-Weichai Power's H1 net profit up 80.6 pct  

Aug 29 (Reuters) - Weichai Power Co Ltd * Says H1 net profit up 80.6 percent y/y at 3.8 billion yuan(618.59 million US dollar) Source text in Chinese: Further company coverage: (1 US dollar = 6.1430 Chinese yuan) (Reporting by Hong Kong and Singapore newsrooms)...More

BRIEF-Zhengzhou Yutong Bus' H1 net profit up 10.25 pct  

Aug 29 (Reuters) - Zhengzhou Yutong Bus Co Ltd * Says H1 net profit up 10.25 percent y/y at 696.8 million yuan(113.43 million US dollar) Source text in Chinese: Further company coverage: (1 US dollar = 6.1430 Chinese yuan) (Reporting by Hong Kong and Singapore newsrooms)...More

BRIEF-Semperit Holding H1 revenue +2.9% to EUR 464.3 million  

Aug 29 (Reuters) - Semperit Holding AG : * H1 revenue +2.9% to EUR 464.3 million * Says H1 earnings after tax EUR 27.8 million, down 1.5% to EUR 28.2 million * H1 EBITDA +4.6% to EUR 68.8 million * Says H1 EBIT EUR 46.2 million, up 5.7% to EUR 43.7 million * Says aims to achieve an EBITDA margin of between 12% and 15% and an EBIT margin of between 8% and 11% for FY 2014 * Says aims to achieve double-digit revenue growth on average in the years from 2010 to 2015 inclusive * Source text - * Further company coverage...More
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